The Start-Up Clear Gets $13M Series A Building High-Volume Transaction System On The Blockchain
Clear and Neutrino are leading the path of blockchain technology. Know why they are the promise of the future. Read the full article.
Clear Comes With More Clarity
In the tech world Clear comes as an early-stage start-up with a big ambition wanting to build a blockchain thereby for high volume transaction systems like the payments between telcos and it has announced what is a $ 13 million Series A investment with the round being led by the experts like Eight Roads having participation from Telefonica Innovations Ventures, Telekom Innovation Pool of Deutsche Telekom, HKT ass also Singtel Innov8. While it is not a coincidence that the strategic investors were telcos as the early use case for the blockchain transactions network came to be involving moving payments between worldwide telcos as a system that is today highly manual and prone to errors.
According to co-founder Gal Hochberg of Clear, the company takes commercial contracts turning them into digital representations which are often known in digital terms as a smart contract.
As Hochberg explained that which lets them do is creating a trusted view of the true status of the relationship which is formed within the company’s business partners and hereby they’re now looking at the same pricing and usage finding any issues in real-time which is either in commercial information or in service delivery as they resolve those inside the platform.
Here it means that instead of waiting until the end of the month finding errors and beginning a resolution process is what can be done in real-time reducing thereby the time to payment and speeding up conflict resolution by putting these high volumes, cross border transactions onto the blockchain as these smart contracts act as the automated enforcer of the terms. As Hochberg explains further, they use blockchain technology to thereby create those interactions in ways that are auditable, cryptographically securing and ensuring both sides are synced and seeing the same information.
The company for starters is working with the worldwide telco companies as the number of transactions as also the way the cross borders makes this to be a good test case whereas Hochberg has it that says it is only the starting point whereas they are not in full-blown production yet as he says they still have proven that they can process hundreds of millions of billable events. As they begin to expand into other verticals beyond telcos with the help of today's investment, the money, therefore, helps the company get full carrier-grade production sometime in the first half of the year.
Coinbase Buys Blockchain Intelligence Start-Up Neutrino
Gearing up to add more cryptocurrencies to its exchange thanks to its latest acquisition, is Coinbase the world’s most valuable crypto company where it is already known that the firm offers a glut of new crypto assets announcing that it has snapped up blockchain intelligence start-up Neutrino in a thereby undisclosed deal seemed to be destined to help further the goal. Neutrino based in Italy helps to map the blockchain networks whereas in particular, the crypto token transactions pull in information and insight hence with the rise of thefts it still includes a major focus on services for law enforcement agencies tracking stolen digital assets including tracking ransomware and analyzing darknets. There is one area where Coinbase could capitalize on as it goes after security token offerings is that other solutions include tracking services for investment and finance companies helping find rising tokens and assets.
While becoming part of the Coinbase business, the company along with the eight staff relocates to Coinbase’s London office from where they are planning to continue the service to clients as initially the start-up's primary remit was to be the security and theft prevention further down the line it smart and technology putting to discovering and analyzing new asset listings for Coinbase. According to Coinbase’s engineering director Varun Srinivasan, in a brief blog post announcing the deal thereby analyzing data on public blockchains, Neutrino helps prevent theft of funds from people’s accounts, investigating ransomware attacks, and identifying bad actors as also helping them bring more cryptocurrencies and features to more people helping ensure compliance with local laws and regulations. Adding to it Srinivasan says Neutrino’s technology is the best they have encountered in this space.
Raising more than $ 500 million from investors Coinbase includes its most recent $ 300 million Series E round giving it a valuation of $ 8 billion whereas purchasing of Neutrino is its eleventh acquisition to date. Therefore, many of the deals have tended to be talent-led as the Coinbase seeks to suck up more expertise and engineering skills supporting its growing business.